The crypto sector attracted US$1.02 billion in venture capital funding in April 2024 across 161 investment rounds, according to Rootdata.
This is the second consecutive month funding surpassed the billion-dollar threshold.
That brings the amount invested in crypto ventures thus far in 2024 to US$3.67 billion. Blockchain infrastructure companies alone amassed over US$1.7 billion this year.
The industry recorded over US$9 billion throughout last year.
April’s investment landscape was highlighted by notable contributions from major investors, including BlackRock’s US$47 million investment in tokenization firm Securitize.
Monad, often referred to as a “Solana killer,” attracted US$225 million, while Auradine and Berachain, operating on the Cosmos network, secured US$80 million and US$100 million, respectively.
Seed fundraising accounted for more than half of the total rounds placing strategic emphasis on nurturing early-stage projects.
The sector’s allure is further highlighted by venture capital heavyweights like Pantera Capital and Paradigm, which are actively raising capital for new cryptocurrency funds.